Baring


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Baring

(bâr`ĭng), British family of bankers. Sir Francis Baring (1740–1810) founded (1763) the John and Francis Baring Company, which he renamed Baring Brothers and Company in 1806. At first the firm acted as import and export agents for others, but it soon became an independent merchant bank. Sir Francis, a close associate of William Pitt the Younger, helped finance the Napoleonic Wars and underwrote marine insurance. He was succeeded by his son Alexander Baring (later 1st baron Ashburton; 1774–1848), who was a pioneer in the financing of United States trade. He was (1834) president of the Board of Trade in the first administration of Sir Robert Peel and was raised to the peerage in 1835. He was the British commissioner sent to the United States in 1842 to negotiate the Webster-Ashburton TreatyWebster-Ashburton Treaty,
Aug., 1842, agreement concluded by the United States, represented by Secretary of State Daniel Webster, and Great Britain, represented by Alexander Baring, 1st Baron Ashburton.
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. The family continued to manage the firm and by 1890 its importance to the British government was such that the Bank of England guaranteed their debts to save them from bankruptcy when Argentina defaulted (1890) on bond payments. Members of the Baring family were also notable public servants. The more important members of the family include Thomas George Baring, 1st earl of Northbrook (1826–1904), a Liberal statesman who served as a successful viceroy of India (1872–76); Evelyn Baring, 1st earl of CromerCromer, Evelyn Baring, 1st earl of
, 1841–1917, British administrator in Egypt. Appointed (1877) first British commissioner of the Egyptian public debt office, he directed investigations by France and England into
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; Maurice BaringBaring, Maurice,
1874–1945, English author. After a career in the diplomatic service, he turned to journalism in 1904. A war correspondent during the Russo-Japanese War, he wrote several books on Russia, including A Year in Russia (1905–6) and
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 (1874–1945), author; and George Rowland Stanley Baring, 3d earl of Cromer (1918–91), governor of the Bank of England (1961–66) and ambassador to the United States (1971–74).

Bibliography

See R. W. Hidy, The House of Baring in American Trade and Finance, 1763–1861 (1949).

baring

[′ba·riŋ]
(geology)

Baring

Evelyn, 1st Earl of Cromer. 1841--1917, English administrator. As consul general in Egypt with plenipotentiary powers, he controlled the Egyptian government from 1883 to 1907
References in periodicals archive ?
As a result of the combination, the Barings brand and logo will be refreshed to reflect the global nature of the new Barings and signify the unified platform of the affiliates.
Baring Brothers were the financial agents of the government of Canada at the same time as they were directors and agents of the Grand Trunk Railway.
A senior Baring family member gets two pages: he was grumpy, with a heart of gold, and dressed in scarlet comforters and galoshes, etc.
Barings said further that the deal, which is pending regulatory authorisation, is expected to close by the end of the year.
She also refused to say whether the famous Barings name would survive.
Plans that have hired Barings to run funds in this mandate include, Neville Chemical Company Master Pension Trust, The Lincoln Electric Company Master Retirement Trust, South Miami Retirement System, Alexander Proudfoot Companies, and Lexington-Fayette Urban County Government.
However, according to Barings the recent coup in Thailand, the diplomatic crisis in North Korea and large-scale protests in Taiwan do not represent a common theme of political instability, which threatens to impact the strength of Asian markets.
At the start of the correction, BAM decided to raise the levels of cash held in the Baring Eastern Europe Fund to help minimize the effects of the dip on investors' assets.
Although Baring is maintaining its current overweight position in developed Asia ex- Japan (Hong Kong, Singapore, Australia, and New Zealand), it feels that the market conditions of emerging countries (including South Korea, which accounts for 18% of the overall emerging index) are positioned to offer greater returns.
BOSTON -- Baring Asset Management (BAM), the global institutional investment management firm, welcomes the Chinese decision to revalue the Yuan saying it is a very positive development for investors in the region as a whole.
So says Toby Nangle, a Director of Fixed Income at Baring Asset Management (BAM), the global institutional investment management firm.